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Behind The Scene: TV9 chief takes lion share in Fab City!
The
report that a prominent real estate and software company is
seeking to gain a lion's share in the Fab City has given a
new twist to the controversy over setting up of the multi-crore
semi-conductor plant.
Sources say the software company
is iLabs, owned by Srini Raju, who broke away from Satyam
Group about five years ago and set up his own company. More
than the software exports, Srini Raju is now well-known for
his media venture, TV9, which is the topmost news channel
in Andhra Pradesh now. Of late, Srini Raju has entered into
Special Economic Zone business and bagged the prestigious
Satyavedu SEZ in Chittoor-Tamil Nadu border. He is developing
the infrastructure projects there. Sources say he enjoys the
backing of Y S Jagan Mohan Reddy, son of Chief Minister Dr
Y S Rajasekhar Reddy.
With Sem India, supposedly
the main promoter of Fab City, being relegated to back seat,
Srini Raju entered the scene as a co-promoter with the AP
Industrial Infrastucture Corporation, promising to develop
the Fab City SEZ. Whether the chip manufacturing companies
come to Hyderabad or not, Srini Raju is sure to make millions
in the name of SEZ development!
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